The companies commended with this honor are those with the diligence, perseverance, and dedication required to develop a successful business plan and excel in the increasingly competitive global marketplace.
The award methodology utilized to determine best practices in the industry consists of interviews with market participants and extensive secondary research of proprietary data.
Frost & Sullivan analysts track competitor revenue and market share within the industry. The competitors are then compared and ranked. There are specific criteria used to ascertain the final competitor ranking in each industry. For technology Best Practices Awards, the technologies and research projects are compared using customer base demands. In addition, factors such as feasibility of product launch, likelihood of customer acceptance and acceptance rates, and estimated time to market are taken into consideration.